Gold Weakens

Gold is having a hard time choosing a direction while it is gravitating towards $1,275.The precious metal climber a high of the day of $1,281 and is currently trading at $1,274-$1,275. Traders and investors are being cautious eyeing the FOMC Minutes scheduled for tomorrow.

First support is seen at the level of $1,270, while first resistance is the $1,280 level. A break to either side would most likely trigger a quick reaction in both camps, so if have not yet opened any position it would be best to wait for a clear direction and act on it.

Chart: XAU/USD D1